Who Has Cheap Nashville Car Insurance Rates for 16 Year Olds?

The car, truck, or SUV needing coverage is one of the primary factors when quoting economical coverage for 16 year olds. Vehicles with higher performance characteristics, poor crash test ratings, or a track record of large liability claims will cost more to insure than safer models. The table below estimates coverage prices for a number of the cheapest vehicles to insure in Tennessee.

Cheapest Vehicles to Insure in Nashville, TN
Vehicle Make and Model Estimated Cost for Full Coverage
Hyundai Elantra GLS Touring Station Wagon $4,590
Honda Accord LX 4-Dr Sedan $4,598
Honda CR-V EX 4WD $4,634
Ford Escape XLT 4WD $4,639
Toyota Prius $4,960
Ford Explorer Eddie Bauer 2WD $5,164
Dodge Grand Caravan CV $5,172
Ford F-150 STX Super Cab 4WD $5,208
Volkswagen Jetta SE 2.5 Station Wagon $5,240
Chevrolet Impala LS $5,403
Jeep Grand Cherokee Laredo 2WD $5,446
Chevrolet Malibu Hybrid $5,453
Chevrolet Equinox LT 2WD $5,446
Toyota RAV4 Sport 4WD $5,452
Dodge Ram 3500 Crew Cab Laramie 2WD $5,490
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Premium data assumes single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, and claim-free. Information does not factor in specific location information which can decrease or increase prices considerably.

By looking at the data, we can infer that cars like the Hyundai Elantra, Honda Accord, and Honda CR-V are most likely going to be the cheaper vehicles to insure for new drivers. The cost of auto insurance will tend to be more expensive anyway just due to the fact that there is more liability risk for 16 year olds, but overall those specific models will have the cheapest auto insurance rates compared to other types of vehicles.

Figuring out which companies offer the cheapest insurance rates for 16 year olds will require a bit more effort than just quoting one company’s rates. Every auto insurer has a proprietary method for establishing rates, so we will examine the most affordable insurance companies in Nashville, TN.

It’s important that you understand Nashville, TN insurance rates are impacted by many things that may substantially change the cost of a policy. Simply getting older, buying a different vehicle, or getting a ticket for running a stop sign can cause premium changes that may make certain companies cheaper in comparison to the competition.

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Rankings for the cheapest car insurance companies in Tennessee
Rank Company Cost Per Year
1 Utica National $737
2 Auto-Owners $861
3 Cincinnati Insurance $876
4 Tennessee Farmers $933
5 Penn National $935
6 USAA $957
7 Erie $997
8 Nationwide $1,002
9 Allied $1,029
10 Westfield $1,047
11 GEICO $1,156
12 Travelers $1,177
13 Progressive $1,190
14 State Farm $1,213
15 Shelter $1,223
16 State Auto $1,241
17 Direct General $1,251
18 The Hartford $1,258
19 21st Century $1,274
20 Chubb $1,290
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Utica National normally has some of the lowest car insurance rates in Nashville at around $737 each year. Auto-Owners, Cincinnati Insurance, Tennessee Farmers, and Penn National also make the cut as some of the cheaper Nashville, TN auto insurance companies.

In the above example, if you are a customer of Tennessee Farmers and switched to Utica National, you might achieve annual savings of in the neighborhood of $196. Policyholders with Penn National might save as much as $198 a year, and USAA policyholders might lower prices by $220 a year.

These premiums are averaged across all insureds and vehicles and are not factoring in an exact vehicle garaging location for 16 year olds. So the car insurance company that can offer you the best rate may not even be in the list above. That point stresses why you need to get auto insurance quotes using your own personal information and vehicle type.

For new drivers, one of the largest factors that are used to help calculate insurance cost is the neighborhood you call home. Areas with a lot of weather claims or more people tend to have higher auto insurance costs, whereas areas with less congestion have the luxury of cheap car insurance rates.

The information below lists the most expensive areas in Tennessee for 16 year olds to purchase car insurance in. Nashville shows up at #13 with a yearly cost of $1,165 for car insurance, which is around $97 per month.

How much is auto insurance in Nashville, TN?
Rank City Annual Rate
1 Memphis $1,446
2 Bartlett $1,419
3 Collierville $1,363
4 Germantown $1,334
5 Jackson $1,266
6 Knoxville $1,218
7 Columbia $1,214
8 Oak Ridge $1,210
9 Clarksville $1,206
10 Maryville $1,196
11 Franklin $1,175
12 Hendersonville $1,170
13 Nashville $1,165
14 Murfreesboro $1,159
15 Smyrna $1,159
16 Spring Hill $1,157
17 Gallatin $1,155
18 La Vergne $1,151
19 Chattanooga $1,149
20 Cookeville $1,136
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Information shown are comparative as specific Nashville zip code can change price quotes noticeably.

Poor driving habits will raise your insurance rates

The ideal way to obtain the most affordable insurance prices in Tennessee for new drivers is to drive safely and avoid accidents and violations. The example below illustrates how speeding tickets and at-fault claims can drive up insurance rates for each different age group. The price estimates are based on a single female driver, full physical damage coverage, $500 deductibles, and no policy discounts are applied.

In the chart above, the average cost of auto insurance per year with no accidents or violations is $1,421. Add in one speeding ticket and the average cost jumps to $1,610, an increase of $189 each year. Then include one accident along with the one speeding ticket and the yearly cost of insurance for 16 year olds increases to an average of $2,138. That’s an increase of $717, or $60 per month, just for not keeping your driving record clean!

The chart below shows how different deductible levels can increase or decrease insurance costs when searching for cheap insurance for 16 year olds. Data assumes a single male driver, comprehensive and collision coverage, and no discounts are factored in.

As shown above, a 50-year-old driver could cut expenses by $284 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $428 by switching to a $1,000 deductible. Even younger insureds, like the 20-year-old example, have the ability to save as much as $936 each year just by using higher deductibles. When choosing a higher deductible, it is necessary to have emergency funds available to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.

Don’t make the mistake of not shopping around

Tennessee insurance rates are calculated based on many things that can increase the price you pay. Simply turning a year older, having a teenage driver, or getting a driving violation can trigger price changes that can now make some companies cheaper than competitors.

Not only may your situation change, but auto insurance companies amend pricing at least once a year as an adjustment for underwriting gains or losses. Significantly higher claims may result in additional premium costs, while lower claim levels can result in lower-cost Nashville car insurance rates.

The data below shows the company with the cheapest car insurance in Nashville, TN for a 45-year-old female driver with no violations or accidents, and good credit. When comparing rates based on her current rating profile, Utica National might quote the best car insurance rates in Nashville at $880 a year. This is $448 less than the average price paid by Tennessee drivers of $1,328. Cincinnati Insurance, Auto-Owners, Penn National, and USAA also make the list of the top five cheapest Nashville, TN auto insurance companies.

Let’s now give the driver from the first set of rates an accident claim, a lower credit rating, and a speeding ticket. Due to the fact that each insurance company uses their own calculation for setting prices, getting updated rate quotes will most likely result in a completely different list of cheap Nashville auto insurance companies as shown below.

Erie now has the cheapest car insurance in Nashville with Nationwide, Allied, Westfield, and GEICO also having competitive pricing. This example shows why consumers need to shop around when trying to get the best auto insurance rates for 16 year olds. Auto insurance prices are impacted by many things and can change without notice, so the most economical option when you bought your policy may now cost much more than other companies.